European Stars and Stripes (Newspaper) - December 29, 1991, Darmstadt, Hesse                                Sunday december 29. 1991 the stars and stripes a Page 17 a Money matters Dollar watch shown below Are the highest Dollar Exchange rates for the week of dec. 22 28 compared with Dollar rates for the same period one year and five years ago. British Pound one Pound would Cost you $1.93 $1.92 1991 1990 $1.44 1986 German Mark one Dollar would buy you 148 1.51 1.97 1 1991 i 1990 i 1986 a military Exchange rate. Austrian Schilling one Dollar would buy you 10.65 10.68 13.66 i 1991 1890 1986 1 a amps the Dollar advanced against most major currencies Friday although How Long it can hold those gains is anybody guess. After going Down thursday the Dollar fell As Tow As 1.s015 German Marks in overnight trading before turning the Corner and heading upward. A two things help account for the dollars firmer tone a said Marc Chandler senior Market strategist for . A first we tested 1.50 mar Sand when that important support level held it helped the Dollar Bounce about 2  secondly he said there had been substantial buying of Japan a yen not Only against the Dollar but against the Mark and other european currencies. Chandler said that those moves helped the Dollar against other currencies even As the Dollar itself went Dow against the yen. He said the yen was Strong on Market perceptions that there would be an increased Effort by Japan to talk it up As a Way of reducing the lopsided Trade imbalance Between the United states and that nation. But while the Dollar was Able to fatten up against most other currencies by Riding the Strong yen a coattails Chandler said the fundamentals were Stilt not very supportive of the beleaguered . Currency which he saw As Likely to fall below 1.50 Marks. Barring any unforeseen developments the Dollar is Likely to finish 1991 just about where it started at 1.4975 Marks. In late new York trading Friday the Dollar Rose to 1.5195 German Marks from 1.5080 thursday. The Dollar also gained against the British Pound Sterling which backtracked to $1.8740, from $1.8865. Against other european currencies the Dollar advanced to 5.1910 French francs from 5.1560, and to 1,152 italian lire from 1,143. The official rate through monday for the Sale of British pounds to . Personnel will be $1.93 for a Pound. The rate for German Marks through monday will be 1.48. United press International Beer duty Cap on tools seen As get Tough Trade policy by the new York times Washington the Bush administration said Friday that it planned to impose duties on Canadian Beer to retaliate for Canadas restrictions on . Beer. And it said it would extend some restrictions on imports of tools from Taiwan and Japan used to make machinery including military equipment. The move against Canadian Beer could result in a doubling of the Price of imported brands like Molson next april when the duties Are scheduled to go into effect. But negotiations could Lead to smaller duties or no duties at All. The tool restrictions would retain 5-year-old Caps on imports from Taiwan and Japan. The limits were initially imposed because of the Reagan administrations reluctance to have the United states become dependent on foreign equipment for the . Military buildup. Coming three Days before president Bush strip to Asia the announcements appeared to represent a policy shift Trade experts said. A taking machine tools and Canadian Beer on the same Day adds up to a get Tough stand on Trade policy a said Gary c. Hufbauer a fellow at the Institute for International economics in Washington. But White House press Secretary Marlin Fitzwater avoided presenting that action As a move toward protectionism a the main responsibility for achieving International competitiveness rests with the Industry itself a he said. The Beer announcement reflected . Frustration with six years of efforts to open up Canadas Beer Market. Quebec province for example has 11,000 grocery stores licensed to sell domestically brewed Beer but Only 300 stores Are licensed to sell . Beer. The Canadian embassy in Washington objected to the . Announcement. A Canada has told the . That retaliation is premature and inappropriate a said Pam k. Chappell an embassy official. Friday s decision on machine tools was particularly hard fought within the administration because it involves both Trade and National Security issues. It comes at a time when . Officials Are groping for new policies after the collapse of the soviet Union. The office of the Trade representative and some White House officials had argued that continued restrictions on tools could not be justified on purely economic grounds because of the Industry a Success in competing against some imports. The defense department however successfully argued that National Security required Bush to extend some of the restrictions which Are actually imposed by the exporting countries under . Pressure As so called voluntary restraint agreements. Bush ordered Friday that import restrictions on machining centers and computer controlled machines that punch Shear round and Mill Metal be extended for two years although the Caps Are to be gradually lifted during that time. But import restrictions on similar machines without computer controls will be allowed to expire tuesday. The coordination Council for North american affairs which represents Taiwan in the United states said the . Decision unfairly penalizes Taiwan. The decision keeps imports at 1986 Levels when Taiwan s Industry was still Small and does not include Switzerland and Germany which also Export Many machine tools to the United states said Albert crashing Hsiu Lin a Council member. Dow Scales record Summit of 3,700 new York up the Stock Market got one of the Best gifts in its Christmas stocking this week a the Dow hit a record 3,100 for the first time in Wall streets history. The Market reached the historic height after a powerful five Day winning Streak thanks to Federal Reserve Board chairman Alan Greenspan who played Santa Claus to Wall Streeter. The dramatic Christmas rally which caught analysts by Surprise was fuelled by rising optimism that the feds latest easing of interest rates will help revive the Stalle economic recovery. Hugh Johnson head of the investment policy committee at first Albany corp. In Albany n.y., said Wall Street got a much More than a traditional Christmas  it suggests very strongly that the Economy will do Well in 1992 and will not carry with it High inflation. Investors Are applauding the reduction in interest  for the week the Dow Jones Industrial average surged 6 percent or 167.04 Points to close at an All time High of 3,101.32. The huge weekly gain More than wiped out the 102.42-Point loss recorded in mid november when the Market suffered its fifth biggest one Day drop. Broader Market indexes also set record highs with the new York Stock Exchange composite Index rising 10.62, to end the week at 223.75, and the Standard amp poor a 500 Index adding 19.42, to close at 406.46. Advancing issues overwhelmed decliners 1,699-324 among the 2,249 issues traded last week. Weekly big Board volume totalled 695,386,750 shares Down from 1,076,839,949 traded a week earlier but up from 348,423,250 in the same week a year ago. Stocks rallied for the second session in a Row in heavy trading monday. The Dow surged 88.10, to 3,022.58, tying the years second biggest one Day gain set on aug. 21, when the coup against then soviet president Mikhail s. Gorbachev was quashed. It was also the key barometers first close above the 3,000 level since it closed at 3,063.51 on nov. 14, the Day before the Dow suffered its 120.31 Point loss. Last minute bargain shoppers brought Market update activity for the week of dec. 23 27,1991 Dally Dow closes 3100 3050 3000 2950 2900 2650 2800 with the nose Index closing Al 219.37 and the a amp a Index ending at 397.41. Investors inspired by improved prospects for an economic turnaround went on a Post Christmas shopping spree lift ing the Stock Market to record signs in moderate trading thursday. The Dow Rose 31.98 Points to 3,082.96, eclipsing the All time closing High of 3,077.15set on oct. 18. The Dow transportation average jumped 28.96, to 1,315.02, rewriting its record High of 1,287.56, also set on oct. 18. Stocks rallied for the fifth Day in a Row Friday catapulting the Dow beyond the 3,100 Mark for the first time in Walt streets history. The Dow jumped another 18.56, to 3,101.52. On the trading floor last week Rwjr Nabisco holdings paced the big Board actives rising veto 1034. Citicorp followed rebounding 214, to 10v4. The Wall Street journal on thursday quoted analysts As saying the Bank a Stock May have seen the last of its lows. On tucs m the Day Citicorp indicated Federal regulators found no big problems with the nations biggest Bank holding company whose Stock took a beating several weeks ago on rumours highest close 3,101 52-Fri. Weeks High lowest close weeks Low 3,126-65-Fri. 3,022.58-Mon. 2,919.05-Mon, weeks change up 167.04 aps amps Wall Street a three Day Christmas rally in heavy trading tuesday. The Dow jumped 28.40, to 3,050.98. For the second consecutive Day the new York Stock exchanges a Dow stick Rule a which is designed to stabilize the Market by restricting computer driven program buying was triggered when the Dow Rose More than 50 Points at midday. The Broad based gauges managed to set record highs with the nose composite Index adding 1.52, to 219.65, and saps 500-Stock Index rising 2.51, to 399.33. The previous All time highs were set nov. 13, it was having severe funding problems and its chairman would resign. Volume of nose listed issues including trades in stocks on regional exchanges Ana in the Over the counter Market totalled 862,707,580 shares Down from 1,294,970,639 traded in the previous week but up from 444,370,610 a year ago. On the american Stock Exchange the amex Market value Index Rose 5.42, to close Friday at 382.94. For the week the Index jumped 15.72. Advances led declines 544372 among the 1,041 issues traded for the week. Amex volume totalled 62,520,665, compared with 93,315,815 shares a week earlier and with 34,262,165 in the same week a year ago. Americus be led the amex actives rising 2 i to 634. The National association of securities dealers composite Index Rose 6.4to end the week at an All time High of 565.71, gaining 29.95 Points for the week